Not a huge fan of the head & shoulders pattern, but there could be one forming here.
If it does form the simple pattern, then be prepared for a further drop from it's current level.
It has also just hit a level of resistance. I'm anticipating a retest of this resistance level before looking for an entry reason on the 4 or 1 hour time frame to go short.
Be aware it has also showed some previous rejection from the 61.8 Fib level, so if it does go short, it could quickly reverse at this level, if not, then enjoy the ride as it keeps dropping. Good luck :)
If it does form the simple pattern, then be prepared for a further drop from it's current level.
It has also just hit a level of resistance. I'm anticipating a retest of this resistance level before looking for an entry reason on the 4 or 1 hour time frame to go short.
Be aware it has also showed some previous rejection from the 61.8 Fib level, so if it does go short, it could quickly reverse at this level, if not, then enjoy the ride as it keeps dropping. Good luck :)
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.